Topic: Coinbase Statement (Read 2824 times)
This event is going to prove to be a positive for Bitcoin in the long run, but things are gonna be ugly in the short term
NY Times is now covering the story.
http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=1
http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=1
Quote
On Monday night, a number of leading Bitcoin companies jointly announced that Mt. Gox, the largest exchange for most of Bitcoin’s existence, was planning to file for bankruptcy after months of technological problems and what appeared to have been a major theft. A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation.
All the other exchanges are going bananas right now! I wonder where the bottom is going to be this time? I am going to load up for sure...
" Mtgox has confirmed its issues in private discussions with other members of the bitcoin community"
R.I.P. Gox
R.I.P. Gox
That's a nice statement from relevant people, i feel safer in the BTC world after reading that.
What if fix doesn't say anything now? You just assume they're never coming back? Time to hire the lawyers!!
I wonder if Gox will even make a statement at this point? They deleted all Twitter posts, and with the website supposedly being down, what channel will they use to make an announcement, Myspace?
My bet is they'll relaunch on GeoCities.
I wonder if Gox will even make a statement at this point? They deleted all Twitter posts, and with the website supposedly being down, what channel will they use to make an announcement, Myspace?
Oh man. I lost .6 btc in there 
On one point it's like "only .6 btc." On the other point it's like "That was all my btc left ".
Oh well. Time to try mining with my gpu again till I can afford to invest in some kind of miner. :x
On one point it's like "only .6 btc." On the other point it's like "That was all my btc left ".Oh well. Time to try mining with my gpu again till I can afford to invest in some kind of miner. :x
Wow, all the heavy hitters coming out at once. "John doe" of BTC-E did not join in...
+1, fuck Gox.
they removed bold here: "The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox."
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
Oh this is getting juicy.....Gox to release a statement soon I'd imagine..
or just leave a blank website up and run away....
+1
Gox has only been full of empty promises. Kinda like some people in my life. And frankly I don't need any of them. And as a community we don't need Gox.
Great job sticking together for the major heads of the cryptocurrency industry.
We all just have to weather this FUD shitstorm, rebound, and move on from Gox's shadow. Gox may have been first, but it's proven without a doubt to be the worst online exchange.
We all just have to weather this FUD shitstorm, rebound, and move on from Gox's shadow. Gox may have been first, but it's proven without a doubt to be the worst online exchange.
they removed bold here: "The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox."
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
Oh this is getting juicy.....Gox to release a statement soon I'd imagine..
or just leave a blank website up and run away....
Wow, this is a very strong sentiment to hold and frankly it's what the Bitcoin community needs. Mt. Gox is so 2011, there have been many better, brighter, and more honest companies that have come into existence since that time. Before, Mt. Gox kinda defined BTC, now it's anything but that and it's good to start shedding that past.
they removed bold here: "The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox."
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
Oh this is getting juicy.....Gox to release a statement soon I'd imagine..
they removed bold here: "The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox."
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
and on the last paragraph they removed bold sentence:
Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any these essential requirements as a financial services provider.
pretty bold statement lol
*edit - and now the gox site is blank in case you haven't seen it yet
Given that some of those are people you would have expected to be involved in putting together a rescue package if one was going to be forthcoming, Gox has pretty much been thrown to the wolves (and deservedly so).
Pretty much called Gox a joke to the public. While I know i'm going to wake up tomorrow to some sub $400 BTC, in the long run this was the right choice.
Given that some of those are people you would have expected to be involved in putting together a rescue package if one was going to be forthcoming, Gox has pretty much been thrown to the wolves (and deservedly so).
Amazing.
This is the type of message that all of the exchanges need to post up immediately...
This is the type of message that all of the exchanges need to post up immediately...
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